(u.) Compare this inventory with the inventory taken on commencing business, and see whether you have gained or lost money during the past month. (v.) In practical life, we should not be likely to close all our accounts oftener than once a quarter, and perhaps not oftener than once in six months or a year. A great many merchants close all their accounts to the first of January or July of each year, though some only close them to the 1st of January, at which times they generally send bills (see form on page 88) to all who have not called to settle their accounts. (w.) Should any student desire more practice in Book-Keeping than the above transactions require, he can readily extend his accounts by imaginary transactions. Providence, July 1, 1858. Dr. Cash. × 1 To Cash on Hand.. x 2 × 3 X 1 July 2. John Ellis. To 6 lb. B. H. Sugar, @ 08} Mrs. Sarah Brown. Dr. To 9 yd. Lawn @ 31. $20000 $200 00 Dr. 51 72 50 173 302 38 31 24 395 Dr. 675 201 827 1703 Cr. 2460 × 1 By 123 lb. Butter @ 20--- |